SOC as a Service Market Scope
SOC as a service is a subscription or software based service which monitors and manages enterprises logs, device, clouds, network, and assets for internal IT teams. The services are provided remotely by a third-party team and offer 24/7 monitoring without having to invest a lot of money in security hardware. Moreover, with SOC-as-a-service companies get the kind of protection that stand-alone hardware security systems are unable to offer. It uses the machine and human elements to analyze millions of events in real time. It also offers advanced intelligence gathering, threat assessment, planning, and awareness training.
The SOC as a Service market study is segmented, by Application (Network Security, Endpoint Security, Application Security, Database Security and Others) and major geographies with country level break-up. According to AMA, the Global SOC as a Service market is expected to see growth rate of 25.1%
Research Analyst at AMA estimates that United States, Indian Players will contribute to the maximum growth of Global SOC as a Service market throughout the predicted period.
AlienVault (United States), BlackStratus (United States), Cygilant (United States), Thales e-Security (United States), Alert Logic (United States), Proficio (United States), Netmagic Solutions (India), Arctic Wolf Networks (United States), AQM Technologies (India) and ESDS Software Solution (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Suma Soft (India), GA Systems (Australia), Expel (United States), RadarServices GmbH (Austria) and StratoZen (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global SOC as a Service market by Type, Application and Region.
On the basis of geography, the market of SOC as a Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
On 12 Feb 2019, Arctic Wolf Networks, the SOC-as-a-service company, has announced a partnership with Ingram Micro. The partnership is expected to strengthen SOC-as-a-service as well as taking the company to the next level.
On 27 Feb. 2018, Proficio and CyberSight have announced a strategic partnership. The advanced combination of Proficio’s 24x7 managed cybersecurity services and CyberSight’s RansomStopper will provide clients with enhanced endpoint detection and response services that will specifically detect and prevent ransomware attacks in real-time. and On 13 Feb 2018, Cygilant, a pioneer in hybrid Security as a Service, has launched SOCVue Vulnerability and Patch Management (VPM), a new subscription service that unifies vulnerability and patch management into a single offering.
- Shifting To Co-Managed Operations in Partnership with MSSPs and Other Third-Party Vendors to Overcome a Global Shortage of Cybersecurity Talent
- Rapidly Adopting Security Orchestration, Automation and Response (SOAR) Solutions
- Cumbersome Administration after Threat Detection
- Exponential Rise and Sophistication of Cyber-Attacks
- Increase in the Adoption of Cloud-Based Solutions across Small Medium Enterprises
- A mandate to Follow Regulatory and Data Protection Directives for Cyber Defense
- Leveraging Machine Learning, Artificial Intelligence and Blockchain Technologies for Cyber Defense
- Uncertainty of Organizations about Cloud-Based Security Services
- Scarcity of Skilled Cybersecurity Professionals among the Enterprises
Key Target AudienceSOC as a Service Providers, Technology Investors, Research & Consulting Firms, Regulatory Bodies, Government Bodies, End Users and Others
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